Wages are stagnant, but Japanese companies are paying more toward social security payroll taxes
- Japanese companies worry they will be made to pay even more towards retirement and health care
- "The rapidly rising labor costs are increasingly becoming a source of major concern for companies," said Kenji Yumoto, vice chairman of Japan Research Institute and a former senior economist at the Cabinet Office. "The aging demographics will only keep increasing the cost of running a business, while they are uncertain about the prospects for Japan's long-term economic growth."
this via Bloomberg, who note money going toward social security payroll taxes instead of wages, adds to the frustrations of Bank of Japan policy makers seeking higher wages and stronger inflation.
